Proprietary Audit

Proprietary audit is an audit conducted to compare and examine any specific activity to find out whether it lies in public interest or in accordance with commonly accepted customs & standards of conduct. It not only evaluates the underlying evidence but also examine the responsibility, regularity, vigilance and impact of various acts.

In case of proprietary audit, the emphasis is on the substance of transactions and its accuracy rather than concentrating too much on vouchers, documents and evidences. In the proprietary audit, the team of experts focuses on public interest, financial prudence and prevention of wasteful expenditure.
Their main aim is to verify the transactions and comparing them with the standards that whether they are meeting all criteria or not. The audit report prepared by the auditor gives information about accuracy of transactions and its impact on the organization.
An experienced auditor can only evaluate and understand whether the transaction is meeting all criteria to match the standards.

Proprietary audit focuses on ensuring that the funds are received from appropriate channels and those funds are spent for appropriate purposes too. It is done to check that whether any problem such as revenue leakage, frivolous expenditure and corruption are existing in the business. The report of the proprietary audit is submitted by the auditor to the person who appointed him.

What Is Included In Our Package?

Eligibility Consultation

Document Preparation

Application Drafting

Government Fees

Proprietary Audit Compliances

The proprietary audit ensure that every business should follow the compliances mentioned below –

Public money should not be utilized for the benefit of a particular person.

The sanctioned expenditure should not be a source of direct or indirect benefits.

The expenditure should be sanctioned as per the demand of a particular occasion.

Allowances are not on the whole source of profit into the recipient.

Various plan objectives should be in understanding with the organizational objectives.

There should be adherence and proper framing of technical estimates, detailed programs and schedules.

Budgetary control system should be adequate like internal audit system

Every officer should exercise the save vigilance in relation to expenditure as an ordinary person exercise in relation to his own money.

Benefits of Proprietary Audit

More than 10 years of experience

Qualified professionals

Excellent customer service

Cost efficient

Customer delight

Time saving

Quick turnaround time

Continuous support over e-mail and phone (24X7).

How Finacbooks can Help?

Finacbooks is one of the leading Indian firms with more than 10 years of experience in helping businesses with Proprietary audit. To avail the best deals on Proprietary audit, kindly call us at 8800221252 or you can also e-mail us at info@finacbooks.com

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Why FinacBooks?

FinacBooks is an Indian portal of Chartered accountants (CA’s) having more than 10 years of experience in offering accounting, financial and taxation solutions to freelancers, contractors and small businesses. We are having a wide network of CA’S & tax experts and having operations all across India. We provide various numbers of services such as registrations including tax registration, licenses registration, special entities registration, Return filings including filing of income tax return, TDS return, GST return, ESI return, compliances, corporate filing, conversion & closure, certifications including UL certification, BEE certification, ISI certification, audits including internal audit, VAT audit, stock audit, Intellectual property registrations including trademark registration, patent registration, copyright registration etc.

FinacBooks has a network of 10000+ CA’s & tax experts who deals with customers on daily basis and offer them the best solution in the least possible time. We are a specialized unit having a fast approach and believe in saving the valuable time of our clients.